The Swedish company has bucked the global downturn with a 23% rise in sales in the quarter ending December 2008.

But despite an overall rise in sales of 11% in 2008 across the company’s global business, Ericsson’s chief executive Carl-Henric Svanberg said that the situation is expected to deteriorate in 2009.

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The recent job cuts follow the company’s decision to cut 4000 jobs last year. Ericsson has an overall global workforce of 78,750.